European Markets Steady Amid Uncertainty in Global Sentiments

European markets remain stable as German lawmakers prepare to vote on significant government spending. Uncertainty lingers from a call between Trump and Putin regarding Ukraine. Gold reaches a record price above $3,000 an ounce amidst safe-haven flows, while economic tensions from trade policies affect U.S. markets and resonate globally.

European markets displayed remarkable resilience on Tuesday ahead of a crucial vote by German lawmakers on a significant governmental spending overhaul. Meanwhile, uncertainty over a call between U.S. President Donald Trump and Russia's Vladimir Putin concerning Ukraine's situation bolstered gold to an all-time high of $3,000 an ounce.

This month has highlighted a stark contrast in the performance of U.S. stocks compared to their European and Chinese counterparts. European markets have witnessed considerable interest from investors, shifting away from Wall Street’s towering valuations, propelled partly by President Trump’s unpredictable trade policies and federal employment cutbacks.

Notably, Europe’s STOXX 600 index rose by 0.5% on Tuesday, marking an 8% increase this year, contrasting sharply with the 4% drop observed in the S&P 500. This marks the largest outperformance of European stocks against the U.S. index in a decade.

(With inputs from agencies.)